Infra-Annual Labor Statistics: Unemployment Rate Total: From 15 to 24 Years for Norway
Annual, Seasonally Adjusted
LRUN24TTNOA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.05
Year-over-Year Change
42.60%
Date Range
1/1/2000 - 1/1/2024
Summary
This economic trend measures the annual, seasonally adjusted unemployment rate in the United States. It provides valuable insights into the overall health and performance of the U.S. labor market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The annual, seasonally adjusted unemployment rate is a key economic indicator that tracks the percentage of the civilian labor force that is without a job but actively seeking employment. It is a widely used metric for evaluating the strength and stability of the U.S. economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through the Current Population Survey.
Historical Context
Policymakers and analysts closely monitor this trend to inform economic and monetary policy decisions.
Key Facts
- The U.S. annual, seasonally adjusted unemployment rate reached a high of 14.7% in April 2020 during the COVID-19 pandemic.
- In 2022, the annual, seasonally adjusted unemployment rate in the U.S. was around 3.6%.
- The unemployment rate is a lagging economic indicator, often reflecting changes in the broader economy several months after they occur.
FAQs
Q: What does this economic trend measure?
A: The annual, seasonally adjusted unemployment rate measures the percentage of the U.S. civilian labor force that is without a job but actively seeking employment.
Q: Why is this trend relevant for users or analysts?
A: The unemployment rate is a key indicator of the overall health and performance of the U.S. labor market, and it is closely monitored by policymakers, economists, and investors to inform economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through the Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers and central banks, such as the Federal Reserve, use the unemployment rate as a critical input when making decisions about monetary policy, fiscal policy, and other interventions to promote economic stability and growth.
Q: Are there update delays or limitations?
A: The unemployment rate data is typically released on a monthly basis, with a slight delay to allow for data collection and processing. There may be occasional revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRUN24TTNOA156S), retrieved from FRED.